April 11, 2016 / 4:16 PM / a year ago

BRIEF-Newcastle Gold and Franco-Nevada agree to create a new 2.65% royalty

April 11 (Reuters) - Newcastle Gold Ltd

* Newcastle and Franco-Nevada have agreed to create, in return for a cash payment of approximately $2.2 million, a new 2.65% royalty

* New royalty will override five separate pre-existing royalties held by Franco-Nevada that cover most of Castle Mountain gold project

* In addition to royalty purchase, Franco-Nevada will subscribe for 3.6 million subscription receipts of Newcastle at $0.32 per receipt

* New 2.65% royalty covering all of Newcastle’s Castle Mountain gold project claims, located in California Source text for Eikon: (Bengaluru Newsroom; +1 646 223 8780)

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